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Howard Stutz

Affinity Gaming reports small dip in revenues

13 May 2013

LAS VEGAS -- Casino operator Affinity Gaming said Friday its overall revenues declined less than 1 percent in the quarter that ended March 31.

The Las Vegas-based company, which operates 12 casinos in Nevada, Colorado, Missouri and Iowa, reported revenues of $101 million in the first quarter, down from $101.7 million a year ago.

Affinity’s net income for the quarter was $1.98 million, down from $7.6 million in the first quarter of 2012. Affinity has publicly traded debt.

Net revenues in the quarter from Affinity’s Nevada casino, which includes the Primm properties and the off-Strip Terrible’s, declined to $59.9 million, compared to $67.7 million last year.

“Our customers were affected by the increase in gas prices, payroll taxes and other macro-economic conditions experienced across the industry,” Affinity CEO David Ross said in a statement. “Additionally, weather conditions in the Midwest and Colorado negatively impacted results as 2012 was an unusually mild winter and made for difficult comparisons.”